Will the Sun Continue to Rise Over Japan's Stock Market?

Though the Nikkei has had huge gains since November, can the good times continue? A Fidelity Investments fund pro weighs in.

After two "lost decades," the Nikkei's surge of more than 50% since mid-November 2012 has caught the attention of investors. They may be wondering whether Japanese equities are finally pulling out of a nearly 25-year bear market.

Or is this rapid move in the equity market simply a flash in the pan brought about by the sharp 20% depreciation in the yen? My answer is that despite the currency change, we may continue to see investment opportunities in Japanese equities driven by a sea change in the economic and...